Wednesday, March 4, 2009

Wednesday trade - JOYG

I traded JOYG as an open range breakout. I liked the unusual volume (earnings) and the high base that met resistance at 18. I entered on a pullback to 18.05 after seeing the heavy volume on the breakout bar. It started to stall out so I moved my stop to breakeven. I wanted to see more volume come in and I didn't like how choppy the overall market was looking.

Setup: 65

No comments: